 |
Louisiana Light • 3 days | 87.12 | +0.03 | +0.03% | ||
|
Bonny Light • 1 day | 89.32 | +0.45 | +0.51% | ||
|
Opec Basket • 3 days | 86.51 | -1.01 | -1.15% | ||
|
Mars US • 173 days | 77.26 | -1.51 | -1.92% | ||
|
Gasoline • 1 hour | 2.745 | +0.011 | +0.39% |
|
Bonny Light • 1 day | 89.32 | +0.45 | +0.51% | ||
|
Girassol • 1 day | 89.90 | +0.45 | +0.50% | ||
|
Opec Basket • 3 days | 86.51 | -1.01 | -1.15% |
|
Peace Sour • 24 hours | 76.56 | +1.46 | +1.94% | ||
|
Light Sour Blend • 24 hours | 79.61 | +1.46 | +1.87% | ||
|
Syncrude Sweet Premium • 24 hours | 86.56 | +1.46 | +1.72% | ||
|
Central Alberta • 24 hours | 76.96 | +1.46 | +1.93% |
|
Eagle Ford • 3 days | 79.33 | -0.29 | -0.36% | ||
|
Oklahoma Sweet • 6 days | 79.75 | +0.50 | +0.63% | ||
|
Kansas Common • 2 days | 73.50 | +0.50 | +0.68% | ||
|
Buena Vista • 3 days | 87.02 | -0.29 | -0.33% |
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Yemeni Oil Reserves Under Dispute As Civil War Rages On
A Yemeni economic expert from the region contends that French Total’s operations in the Kharkhir region amount to stealing on behalf of Saudi Arabia and ousted president Mansour Hadi – who, as the internationally recognized leader of Yemen, likely believes his actions are within his range of powers.
As the Yemen civil war carries on, Yemen’s oil reserves are becoming a specific point of tension between Yemen’s ousted Sunni leaders and their Saudi backers, and the Shi’ite Houthis and their Iranian backers.
“Saudi Arabia has set up an oil base in collaboration with the French Total company in the Southern parts of Kharkhir region near the Saudi border province of Najran and is exploiting oil from the wells in the region," Mohammad Abdolrahman Sharafeddin told Fars News Agency of Iran on Tuesday. "Sixty-three percent of Yemen's crude production is being stolen by Saudi Arabia in cooperation with Mansour Hadi, the fugitive Yemeni president, and his mercenaries.”
In 2014, Christophe de Margerie, the CEO of Total at the time, visited Sana’a to meet with President Abdrabuh Mansour Hadi and discuss expanding the company’s footprint in the host country.
“Margerie indicated that the relationship with Yemen is strategic and that TOTAL is expanding and developing its oil blocks in the country,” according to Hadi’s website.
Related: Saudi King Goes East In Search Of Friends And Cash
In January, the Saudi-led coalition that backs Hadi’s claim to the presidency clashed with a group of Houthi rebels in the Bab el-Mandab region – a vital passage for around 3.8 million barrels of Middle Eastern crude to overseas markets.
Control of the passage is important for both sides. The Sunni coalition cannot allow the Houthis to take it over because according to Emirati news outlet The National, they could use it to blackmail their enemies, paralyzing oil trade via the passage.
By Zainab Calcuttawala for Oilprice.com
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Zainab Calcuttawala
Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…
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